SMALL BUSINESS TAX DEDUCTIONS

UP TO $20,000

The 2015 Budget contained an announcement that small businesses with aggregate annual turnover of less than $2 million will immediately be able to deduct assets they start to use or install ready for use, provided the assets cost less than $20,000. This policy was effective immediately and will remain in place for assets acquired or installed ready for use until 30 June 2017. The $20,000 limit applies to each individual item and can be claimed as many times you wish.

*Please seek professional taxation advice to ensure your Small Business is eligible for this benefit.